Merus Labs International announced during its shareholders voted in favor of the transaction in which Norgine will acquire all of the issued and outstanding common shares of Merus.
Merus Labs International (TSX:MSL, NASDAQ:MSLI) announced during a meeting of shareholders it was voted in favor of the transaction in which Norgine will acquire all of the issued and outstanding common shares of Merus.
As quoted in the press release:
Barry Fishman, CEO at Merus says: “We are very pleased with the outcome of the vote and the corresponding positive recommendation from Merus shareholders. We believe that the Arrangement represents the best way forward for Merus and we look forward to working with Norgine to implement a smooth integration.”
Peter Stein, CEO at Norgine says: “We welcome the positive recommendation from Merus shareholders. This is a transformative acquisition for Norgine as we continue to drive our European strategy forward in order to deliver profitable growth and create a dynamic and sustainable business in the long term.”
Completion of the Arrangement remains conditional on approval by the Supreme Court of British Columbia and certain other closing conditions customary for transactions of this nature. Subject to obtaining such court approval and the satisfaction or waiver of all other closing conditions, it is anticipated that the Arrangement will be completed on or about July 17, 2017.